Experian Will Raise $1.49 billion After Demerger In October

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00019900-experian-will-raise-149-billion-after-dem/

Experian?s parent company, London-based GUS PLC, said yesterday that it expects to raise around 800 million pounds ($1.49 billion) through the offering of new shares following its spinoff of Experian.

The money will be used to pay off Experian?s debt which it will inherit from GUS in the spinoff. The company had previously announced that it would be offloading its current debt onto the new independent Experian.

The ?demerger? will commence on October 10 and shares of Experian will begin to trade on the London stock exchange the next day.